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Neurometrix (NURO)

NeuroMetrix is an innovation-driven company focused on the development and global commercialization of non-invasive medical devices for the diagnosis and treatment of disorders involving the nervous system. The Company has three commercial products. DPNCheck® is a diagnostic device that provides rapid, point-of-care detection of peripheral neuropathies. ADVANCE® is a diagnostic device that provides automated, in-office nerve conduction studies for the evaluation of focal neuropathies. Quell® is a wearable neurostimulation device indicated for symptomatic relief of chronic pain that is available over-the-counter.

NURO stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

21 Jul 22
1 Oct 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 6M 6M 6M 6M 6M 6M
Cash burn (monthly) 5.92M 196.82K 403.44K 322.06K 279.43K 256.97K
Cash used (since last report) 18.11M 601.72K 1.23M 984.6K 854.27K 785.6K
Cash remaining -12.1M 5.4M 4.77M 5.02M 5.15M 5.22M
Runway (months of cash) -2.0 27.4 11.8 15.6 18.4 20.3

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 22 Fluegel Bradley M Common Stock Grant Acquire A No No 0 27,472 0 27,472
24 May 22 Nancy E Katz RSU Common Stock Grant Acquire A No No 3.4 17,647 60K 17,647
24 May 22 Thomas T Higgins RSU Common Stock Grant Acquire A No No 3.4 47,794 162.5K 47,794
24 May 22 Avermaete David Van RSU Common Stock Grant Acquire A No No 3.4 17,647 60K 17,647
16.4% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 16 16
Opened positions 3 4 -25.0%
Closed positions 3 5 -40.0%
Increased positions 6 4 +50.0%
Reduced positions 2 5 -60.0%
13F shares Current Prev Q Change
Total value 4.92M 4.89M +0.6%
Total shares 1.13M 1.06M +6.8%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Topline Capital Management 570.48K $2.86M 0.0%
Vanguard 315.14K $1.16M 0.0%
Geode Capital Management 54.94K $202K +1.9%
Renaissance Technologies 44.11K $162K +46.4%
BLK Blackrock 38.05K $140K -5.0%
BAC Bank Of America 30.15K $111K +11960.0%
Citadel Advisors 24.05K $88K NEW
STT State Street 18.17K $67K +5.2%
Two Sigma Securities 11.88K $44K NEW
NTRS Northern Trust 11.06K $41K NEW
Largest transactions Shares Bought/sold Change
BAC Bank Of America 30.15K +29.9K +11960.0%
Citadel Advisors 24.05K +24.05K NEW
VIRT Virtu Financial 0 -18.68K EXIT
Renaissance Technologies 44.11K +13.99K +46.4%
Two Sigma Securities 11.88K +11.88K NEW
NTRS Northern Trust 11.06K +11.06K NEW
BLK Blackrock 38.05K -2K -5.0%
Geode Capital Management 54.94K +1.03K +1.9%
STT State Street 18.17K +900 +5.2%
Tower Research Capital 0 -576 EXIT

Financial report summary

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Competition
Natus MedicalSanofi
Management Discussion
  • Revenues for the second quarter of 2022 decreased by $75 thousand or 3.4% from the second quarter of 2021. DPNCheck contributed the majority of revenues in both quarters. It posted revenue growth of 13.6% in the second quarter of 2022, attributable to increased device placements both domestic and international, as well as increased biosensor shipments. Quell revenue declined in the second quarter of 2022 with lower advertising spending and an emphasis on product line profitability. Our legacy ADVANCE revenues also declined due to continuing erosion of the customer base.
  • Gross profit for the second quarter of 2022 decreased by $203 thousand or 12.3% from the second quarter of 2021. The decrease reflected the decline in revenues exacerbated by increases in cost of goods sold to secure essential electronic components for the manufacture of our devices.
  • Operating expenses increased in the second quarter of 2022 by $475 thousand or 21.7% from the second quarter of 2021. The increase reflects investment in our DPNCheck initiatives to drive future growth, including the expansion of our commercial capabilities and bringing to market our next generation testing technology. The increase also includes regulatory and development costs related to the Quell disease-specific indications portfolio.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
New words: Adjusting, amortized, authorized, biosensor, cushion, deployed, deployment, essential, exacerbated, flat, forecasted, guide, hold, intention, paper, percent, settle, short, team, Treasury, unrecognized
Removed: asset, complication, consulting, determine, hierarchy, lead, liability, March, margin, observable, price, professional, test, unobservable, utilized, valuation, weighting, yield

Patents

Utility
"Smart" Electrode Assembly for Transcutaneous Electrical Nerve Stimulation (Tens)
21 Jul 22
Apparatus for transcutaneous electrical nerve stimulation in a user, the apparatus comprising: a stimulation unit for electrically stimulating at least one nerve using electrical pulses; an electrode assembly connectable to the stimulation unit, the electrode assembly comprising a sensing unit, a storage unit, and a communications unit; and a control unit connected to the stimulation unit and the communications unit, the control unit being configured for controlling operation of the stimulation unit based on information from the electrode assembly.
Design
Transcutaneous electrical nerve stimulation (TENS) device
19 Jul 22
Inventors: Marc Cryan
Utility
Transcutaneous electrical nerve stimulator with automatic detection of leg orientation and leg motion for enhanced sleep analysis, including enhanced transcutaneous electrical nerve stimulation (TENS) using the same
1 Mar 22
Apparatus for providing transcutaneous electrical nerve stimulation (TENS) therapy to a user, the apparatus comprising: a housing; an application unit for providing mechanical coupling between the housing and the user's body; a stimulation unit for electrically stimulating at least one nerve of the user; a sensing unit for sensing the user's body movement and body orientation; and a reporting unit for providing the user with feedback based on the user's sensed body movement and body orientation.
Utility
Dynamic control of transcutaneous electrical nerve stimulation therapy using continuous sleep detection
15 Feb 22
Apparatus for providing transcutaneous electrical nerve stimulation (TENS) therapy to a user, said apparatus comprising: a housing; an application unit for providing mechanical coupling between the housing and the user's body; a stimulation unit for electrically stimulating at least one nerve of the user; a sensing unit for (i) sensing the user's body movement and body orientation to determine whether the user is in an “out-of-bed” state or a “rest-in-bed” state, and (ii) analyzing the sleep characteristics of the user during the “rest-in-bed” state; and a feedback unit for at least one of (i) providing the user with feedback in response to the analysis of the sleep characteristics of the user, and (ii) modifying the electrical stimulation provided to the user by the stimulation unit in response to the analysis of the sleep characteristics of the user; wherein the sleep characteristics comprise a likelihood measure of the user's sleep quality.
Utility
Transcutaneous electrical nerve stimulator with automatic detection of user sleep-wake state
15 Feb 22
Inventors: Shai Gozani, Xuan Kong, Tom Ferree